Offerpad Solutions (NYSE:OPAD) Shares Climb 0.7% – Here’s What Happened

Offerpad Solutions Inc. (NYSE:OPAD) shares were up 0.7% during mid-day trading on Tuesday. The stock traded as high as $3.14 and last traded at $3.07. 19,665 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 162,817 shares. The stock had previously closed at $3.05.

Wall Street Analysts Forecast Growth

OPAD has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Offerpad Solutions in a research report on Monday, August 24th. Alliance Global Partners reiterated a “buy” rating on shares of Offerpad Solutions in a research note on Friday, June 12th. Keefe, Bruyette & Woods cut their price target on shares of Offerpad Solutions from $5.50 to $4.50 and set a “market perform” rating on the stock in a report on Tuesday, August 4th. Finally, Wall Street Zen lowered shares of Offerpad Solutions from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $24.83.

Offerpad Solutions Stock Down 6.7%

The company’s 50 day simple moving average is $3.94 and its 200-day simple moving average is $5.45. The company has a current ratio of 1.44, a quick ratio of 0.46 and a debt-to-equity ratio of 0.39. The firm has a market cap of $13.44 million, a P/E ratio of -0.27 and a beta of 2.61.

Offerpad Solutions (NYSE:OPAD) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($1.97) EPS for the quarter, missing analysts’ consensus estimates of ($1.87) by ($0.10). The company had revenue of $77.65 million during the quarter, compared to the consensus estimate of $85.20 million. Offerpad Solutions had a negative return on equity of 99.08% and a negative net margin of 9.85%. Research analysts forecast that Offerpad Solutions Inc. will post -7.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Offerpad Solutions

An institutional investor recently bought a new position in Offerpad Solutions stock. PEAK6 LLC acquired a new position in Offerpad Solutions Inc. (NYSE:OPAD) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 49,998 shares of the company’s stock, valued at approximately $60,000. PEAK6 LLC owned 0.11% of Offerpad Solutions at the end of the most recent reporting period. Institutional investors and hedge funds own 39.44% of the company’s stock.

About Offerpad Solutions

Offerpad Solutions Inc is a technology-enabled residential real estate company that helps homeowners sell and purchase properties. Through its platform, the company provides direct cash offers for eligible homes, allowing sellers to complete transactions on a more flexible timetable than through a traditional listing process.

Offerpad also markets and resells homes it acquires, typically after completing renovations or other improvements. Its services have included brokerage and listing support for homeowners who prefer to sell on the open market, as well as related solutions intended to simplify the moving and home-selling process.

Founded in 2015 by Brian Bair, Offerpad is headquartered in Chandler, Arizona.